The Royal Directive of His Majesty the Sultan in May this year on starting Islamic banking has not only opened up new opportunity for the Sultanate’s banking industry but it is set to change the face of banking itself.
In the GCC, until recently, Oman alone did have Islamic banking. After the Royal decree, almost every bank in Oman is considering launching an Islamic window. The Central Bank of Oman (CBO) has decided to establish a national authority for monitoring Islamic finance and banking sector..............................................Full Article: Source